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Louise Biti

What happens to the family home when you move into aged care

Your abode is likely to be your largest asset, so it is important to understand how it affects the financial side of moving into residential aged care.

If you make a move into residential aged care, you may be leaving behind a spouse (or other family members) in the home, or your home may be left empty.

In either case, the financial implications and what actions need to be taken are complex decisions that consider not just your current situation, but what else might change or happen over time.

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Louise Biti is director of Aged Care Steps.

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    Original URL: https://www.afr.com/wealth/personal-finance/what-happens-to-the-family-home-when-you-move-into-aged-care-20221004-p5bn6m